Toronto’s Kryptokit Launches First Instant Bitcoin Wallet in a Browser

Toronto startup Kryptokit thinks that whatever happens in Vegas should be plastered out in the open for all to see. Today at the Inside Bitcoins conference in Sin City, the company launched its Chrome extension that features the “highest level of secure encryption, coupled with ease of use, automated payment options” for Bitcoins.

According to Kryptokit, the implementation of a Bitcoin wallet directly into a web browser has been touted as “the holy grail for Bitcoin mass adoption”, and the company thinks its launch has started that.

“It’s always been our goal to create an instant Bitcoin wallet system that removes much of the friction associated with current web and software wallets,” said cofounder Anthony Di Iorio. “With the demise of the popular Instawallet earlier this year, we knew there was a need for a fast Bitcoin wallet system, and we have been eager to fill the void.”

Co-founders Di Iorio and Steven Dakh have built a speedy Bitcoin wallet setup with simple Bitcoin payments, integrated into a secure platform where user data is never sent to any remote servers. KryptoKit does not know user passwords or private keys, nor does it have access to customer funds or Bitcoins.

Users need to use the provided embedded QR code or deposit address abd the KryptoKit wallet can be easily funded from any other web or software wallet. Deposits appear instantly and no confirmations are required to initiate outgoing transactions. The cofounders claims that “the real genius of the system” is shown when making Bitcoin payments, as KryptoKit crawls the users screen for any Bitcoin addresses and places them in a bulleted list directly in the wallet window. The user simply selects the address they wish to make a payment to, enters the amount, and hits send. Users don’t need to copy and paste addresses or move back and forth between tabs to their web wallet.